C13 Exam 1 with Answers (Ashworth College)
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D. holding other variables fixed<br />
Question 12 of<br />
20<br />
5.0/ 5.0 Points<br />
Which of the following is a question answered <strong>with</strong> normative economic reasoning?<br />
A. If the college offers free textbooks for students, will more students read their textbooks?<br />
B. If the college provided less financial aid for out-of-state students, would more in-state<br />
students benefit?<br />
C. If the college increased its enrollment requirements, would class size decline?<br />
D. Should the college increase tuition to fund its athletic programs?<br />
Question 13 of<br />
20<br />
5.0/ 5.0 Points<br />
Steven lives in a big city where there is a shortage of parking. He has a parking spot in his driveway where he<br />
parks his car. Which of the following statements is most correct?<br />
A. Steven has a lower opportunity cost of owning a car than his neighbor, who must rent a<br />
parking spot.<br />
B. The opportunity cost of using the spot is zero, because Steven owns the house.<br />
C. The opportunity cost of using the parking spot is the price he could charge someone else for<br />
using the spot.<br />
D. The opportunity cost depends on how much Steven's mortgage payment is.<br />
Question 14 of<br />
20<br />
5.0/ 5.0 Points<br />
Resources are all of the following EXCEPT __________ .<br />
A. unlimited and in abundance<br />
B. the things we use to produce goods and services
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